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| Standard Chartered Bank Home Loan Highlights | |
| Interest Rate | 8.95% p.a. onwards |
| Loan Amount |
|
| Repayment tenure | Up to 30 years |
| Processing Charges | 0.5% to 1% of the sanctioned loan amount (based on the scheme chosen) |
Note: Interest rates as of 12th December 2024
Table of Contents
Standard Chartered Bank Home Loan Interest Rate
The interest rates offered by Standard Chartered Bank for its home loan schemes start from 8.95% p.a. The final home loan interest rates offered by the lender would depend on loan applicant’s credit profile.
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Compare Interest Rates on Home Loans for Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
| SBI | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | Check Eligibility |
| HDFC Bank Limited | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| LIC Housing Finance | 8.50% - 11.25% p.a. | 8.50% - 10.55% p.a. | 8.50% - 10.75% p.a. | Check Eligibility |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. | Check Eligibility |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Check Eligibility |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Check Eligibility |
| IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards | Check Eligibility |
| L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Check Eligibility |
| Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Check Eligibility |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Check Eligibility |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. | Check Eligibility |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Check Eligibility |
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Fee and Charges for Standard Chartered Bank Home Loan
Processing fees
Standard Chartered Bank charges a processing fee of up to 1% of the sanctioned loan amount, based on the home loan scheme chosen.
Foreclosure/Part-prepayment charges
| Particulars | Rates |
| Foreclosure Charges |
|
| Part-prepayment Charges | For home loans with floating interest rates: Nil |
For home loans with fixed interest rates:
|
Other fees and charges
| Particulars | Rates |
| CERSAI Charges | Actual fee as applicable by CERSAI Department |
| EMI cheque bounce charges | Rs 495 per instance |
| Penal interest | 24% p.a. |
| Document retrieval charges | Rs 300 per instance |
| Conversion/Switch fee | Up to 1% of the principal outstanding |
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Types of Standard Chartered Bank Home Loans
Home Loan
- Purpose: Standard Chartered Bank offers its regular home loan facility to prospective borrowers for purchase/construction of a new house or for home renovation/extension of their existing homes.
- Minimum Loan Amount: Rs 10 lakh
- Maximum Loan Amount: Rs 35 crore
- Loan Tenure: Up to 25 years
Also Check: Home Loan Interest Rates
Home Saver
- Purpose: Standard Chartered Bank Home Saver is a home loan variant with overdraft facility, wherein an overdraft account is opened along with the home loan account. The borrower can deposit excess savings into the overdraft account and the bank will deduct that amount from the outstanding principal for calculating the interest amount on the loan.
- Minimum Loan Amount: Rs 10 lakh
- Maximum Loan Amount: Rs 35 crore
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Interest Only Home Loan
- Purpose: Standard Chartered Bank offers Interest Only Home Loans wherein borrowers have the facility to pay only the interest amount during the ‘interest only period’ of up to 12, 24 or 36 months and full EMI amounts thereafter. This facility is only available for ready to move residential properties.
- Minimum Loan Amount: Rs 35 lakh
- Maximum Loan Amount: Rs 3.5 crore
- Repayment tenure: Up to 25 years (for self-employed) and 30 years (for salaried)
Eligibility Criteria for Standard Chartered Home Loan
The eligibility criteria for prospective applicants availing home loans from Standard Chartered Bank are as follows:
- Indian residents, both salaried and self-employed, are eligible for availing this home loan facility.
- Both partnership and private limited firms can avail the home loan schemes offered by Standard Chartered Bank.
- The Interest Only Home Loan is offered only to salaried clients of Standard Chartered Bank in Bengaluru.
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Documents Required for Availing Standard Chartered Bank Home Loan
Prospective borrowers availing home loans from Standard Chartered Bank should submit the below mentioned documents:
List of common documents required for all individuals:
- Duly filled and signed application form with photographs
- KYC Documents: Photo identity, residence proof, age proof
List of Property Documents required for all individuals:
- Self attested copy of property papers
- Existing home loan facility details
- Sanction letter
- Original list of documents held by the competition bank
- Latest outstanding of the loan sought to be bought over
- Other existing loans declaration
List of Financial Documents required for salaried individuals:
- 2 months salary slip (If variable components present in salary structure)
- Latest year Form-16
- Bank statements for the last 3 months
List of Financial Documents required for self-employed professionals/individuals:
- Latest 2 years IT returns and computation of income (firm and individuals)
- Latest 2 years P&L statements, balance sheets (along with all the schedules) and capital account statements, certified by a C.A
- Latest 2 years audit reports
- For self employed, the turnover should be more than Rs 1 Crore.
- For self employed professionals, the gross receipts should be more than Rs 25 Lakh, and bank statements of the primary bank account for the last 6 months.
List of Financial Documents for Partnership firms:
- Partnership deed
List of Financial Documents for Private limited firms:
- Shareholding pattern or memorandum and articles of association, attested by a C.A.
- List of directors
Note: The list of home loan documents mentioned above are indicative in nature. Standard Chartered Bank may ask its loan applicants to submit additional documents depending on their requirements and the applicant’s profile.
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Standard Chartered Bank Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
FAQs on Standard Chartered Home Loan
1. Who can become a co-applicant of Standard Chartered Bank Home Loan?
Ans. Your spouse, parents or children can become co-applicants for availing Standard Chartered home loans. Siblings can also be co-applicants provided they are also co-owners of the property. Borrowers can also include proprietorship and partnership firms, private limited and closely held limited companies as co-applicants.
2. Is the processing fees for availing Standard Chartered Home Loan refundable?
Ans. No, the lender will not refund the processing fees.
3. How can you apply for Standard Chartered Home Loans?
Ans. Prospective applicants can either visit Standard Chartered Bank’s website, get in touch via the phone banking number, send an email to customer.care@in.sc.com or visit the bank branch to apply for the home loan.